Tame would need USD16 million to unlink its staff tomorrow

The company liquidation process could take from 60 to 180 days. Until June, the airline could reach USD 24 million in losses, but if it continues until December, it could reach USD 60 million.

Tame’s liquidation process, like other companies, could take 60 to 180 days. This was reported by Marco Andrés Ávila, president of the Public Business Coordinating Company (Emco).

According to Ávila, the term depends on the complexity of each one, but the settlement process itself will consist of two phases.

The first stage is «pre-settlement», an activity delegated to company managers. In this phase, the reduction of operational structures and load will occur. They must seek agreements to obtain better savings conditions for the State. They must also try to monetize several of the assets of public companies.

The last point will be decisive for moving on to the second stage, since sufficient cash is required to meet obligations, including labor.

Ávila pointed out that to remove the 931 workers from Tame tomorrow it would require USD 16 million.

The official noted that the company reduced operational costs by 34%, personnel by 31% and losses by 29%, which projected the end of a quieter 2021.

On Tuesday, May 19, the Government announced the closure and liquidation of eight public companies. According to the government, these companies had USD 10.8 million in global losses as of March. Of this amount, Tame concentrates 66.2% and maintains a net worth of USD 237.7 million.

In the event that Tame closes in June, the losses will reach USD 24 million, but if it is maintained until December, that amount could reach USD 60 million.

In addition, Ávila said that agreements are being sought with the Ministry of Transportation to cover the demand for the routes that the airline covers, but this is expected to drop by 50%.